Continental Finance / FTC questions

[cqdealer711]

Ok so Im new to this credit rebuilding stuff.  Ive now just discoverd by reading other posts about an FTC ruling regarding Continental FInance/First Bank of Delaware.

this is what is in my report regarding that account.  Can anyone shed some light on this for me?  Any pointers of how to go about doing something about it ?

I appreciate any help! Thanks! You guys are awesome.

So it shows that the OC is still there and that it was transferred to MIDLAND .

[RobertEG]

I see an charge-off by the OC that occured in 8/2008.  Based on the stated expected exclusion date of 4/2015, that would imply that the OC reported a DOFD of sometime in late 2007 to early 2008.  The OC reporting shows the account balance only as of 9/2008, so it is unclear as to whether they still own the debt, or sold it to the debt collector.

If they sold it, their reporting should have been promptly updated to report a $0 balance.

I see the debt collector reporting collection authority beginning in 12/2011.  While they list their business type as a debt buyer, inferring sale to them, ownership is not specifically stated.  The expected exclusion date of the collection is shown as 2/2015, which infers they reported a DOFD that is within the same general time frame as that reported by the OC on their charge-off.  Expected dates dont state a specific, reported DOFD, and they are within two months of one another, so I dont see any obvious improper regaing of DOFD.

All of that seems accurate.  Subsequent reporting by a debt collector does not require deletion of any reporting made by the creditor.

So, my question is, what is the asserted problem/inaccuracy?

[cqdealer711]

i believe this account fell under the FTC ruling found here, but was unsure.   ->>>>  http://www.ftc.gov/os/caselist/0623212/081219compucreditstiporder.pdf

Also i read a little about it from this thread  ,  found here  ->>>>>>  http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Continental-Finance/td-p/1180803/highlight/tr...

was just trying to get some clarity on this.

[Burned2manybridgesB4]

This might help a little... I fought the same battle.

*Per the order, if you opened within the '06 to '08 window, until judgement was made in Dec '08, you are entitled to deletion of OC tradeline, but the collections are in a grey area...proceed at your own risk.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Continental-Finance/td-p/1180803

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?q=compucredit+fdic

[cqdealer711]

thank you

I disputed the midland on all 3, and the OC , continental finance, is only showing on my Experian report..... I disputed it there already as well.

[karamelkutie]

Can I ask if you have had any results come from your disputes....? I succeeded with the OC...but still battling the CA for my old Continental Finance account.